FIBA Announces Broker/Dealer Anti-Money Laundering Certificate in Miami

MIAMI--(BUSINESS WIRE)--The FIBA Broker/Dealer AML Certificate is a full day professional program that gives participants a broad and comprehensive overview and understanding of current Anti-Money Laundering (AML) challenges and industry best practices faced by broker/dealers. Currently scheduled for launch on December 6, 2012 in Miami, FL, this program, developed in cooperation with industry practitioners both in the United States and Latin America in partnership with Florida International University (FIU), offers participants an in-depth view into the challenges of broker/dealers in complying with U.S. AML requirements and leading international practices.

“Within the broker/dealer community, it has become clear that any “AML Compliance Grace-Period”

This AML training program, developed by Sven Stumbauer, Managing Director, Practice Lead Miami and Latin America – Veris Consulting and member of the Board of Directors of FIBA, reviews the practical aspects of various approaches to risk assessment, policy and procedure development and implementation, identifying and monitoring potentially suspicious activity, and uncovering potential money laundering activities in the broker/dealer environment.

“Offering this unique certificate program to our members and friends, further fosters FIBA’s goal and my personal objective as FIBA president, to broaden FIBA’s mandate and continue expanding FIBA’s role in today’s changing international business environment,” stated Grisel Vega, acting FIBA President.

The FIBA Broker/Dealer AML Certificate is designed for bankers conducting securities business, U.S. & international broker/dealers, compliance officers, and registered representatives. Following the successful completion of an exam at the end of the program, participants will receive the prestigious certificate from FIBA & FIU. David Schwartz, FIBA’s Executive Director adds: “This program was developed based on the request of not only FIBA’s broker/dealer members, but also internationally operating banks that want to offer their employees this unique and focused AML training.”

According to Sven Stumbauer, “Within the broker/dealer community, it has become clear that any “AML Compliance Grace-Period” for broker/dealers has expired in light of the recent high-profile regulatory actions taken against broker/dealers by various regulatory and self-regulatory organizations. In addition, the U.S. Department of Justice is shifting its sights to a new offensive in combating money laundering: bringing criminal charges against banks and other financial institutions for weak compliance systems that fail to catch illicit money flows.”

FIBA has also earned its place in the online AML certification space by focusing on the practical side of anti-money laundering and OFAC regulations. Please email [e-mail] or call 305-579-0086 for information about FIBA training.